Investor snags downtown Franklin building

A local real estate investor has paid $3.4 million for an office building in downtown Franklin.

Seller 131 Third Avenue LLC is a subsidiary of New Life International, which filed for for Chapter 11 bankruptcy protection on New Year's Eve, which means it remains open and operating while trying to reorganize its finances.

A news release from Brentwood-based OakPoint Advisors, which brokered the sale, declined to identify the identity of the buyer, which was descried as a local real estate investor.